Tax Working Group: There's good data on income and wealth distribution

Author
Newstalk ZB,
Publish Date
Mon, 19 Jul 2021, 8:06PM
(Stockxchng)
(Stockxchng)

Tax Working Group: There's good data on income and wealth distribution

Author
Newstalk ZB,
Publish Date
Mon, 19 Jul 2021, 8:06PM

The prospect of inheritance tax is rearing its head again.

The government's allocating $5 million over two years to Inland Revenue to assess the income and wealth of New Zealand's high-wealth individuals.

PWC tax partner and Tax Working Group member Geof Nightingale says there’s no good data on wealth from Tax Working Group’s research on capital taxes, but there is good data on income and wealth distribution.

“I think it’s a long bow to draw back and say that means the Government are preparing the ground for an inheritance tax.”

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